Smurfit Westrock Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	699	319	825	1,034	802
Depreciation & Amortization	2,550	1,464	580	564	554
Asset Writedown & Restructuring Costs	246	24	5	121	-
Stock-Based Compensation	139	206	66	68	82
Other Operating Activities	-313	-181	-76	-37	-81
Change in Accounts Receivable	164	-144	245	-91	-501
Change in Inventory	35	62	220	-209	-297
Change in Accounts Payable	-23	-273	-260	-33	585
Change in Income Taxes	-71	-5	-99	53	-19
Change in Other Net Operating Assets	-34	11	53	-37	-43
Operating Cash Flow	3,392	1,483	1,559	1,433	1,082
Operating Cash Flow Growth	128.73%	-4.88%	8.79%	32.44%	-29.07%
Capital Expenditures	-2,192	-1,466	-929	-930	-715
Sale of Property, Plant & Equipment	12	61	17	13	19
Cash Acquisitions	-6	-720	-33	-108	-521
Divestitures	-	-	-	-	39
Other Investing Activities	43	11	14	5	6
Investing Cash Flow	-2,143	-2,114	-931	-1,020	-1,172
Short-Term Debt Issued	-	1	-	-	-
Long-Term Debt Issued	1,989	5,709	88	52	1,248
Total Debt Issued	1,989	5,710	88	52	1,248
Short-Term Debt Repaid	-391	-	-	-	-
Long-Term Debt Repaid	-1,902	-4,343	-143	-59	-777
Total Debt Repaid	-2,293	-4,343	-143	-59	-777
Net Debt Issued (Repaid)	-304	1,367	-55	-7	471
Repurchase of Common Stock	-69	-53	-30	-74	-28
Common Dividends Paid	-900	-650	-391	-349	-365
Other Financing Activities	-25	-57	-3	-1	-2
Financing Cash Flow	-1,298	607	-479	-431	76
Foreign Exchange Rate Adjustments	86	-121	10	-126	-107
Net Cash Flow	37	-145	159	-144	-121
Free Cash Flow	1,200	17	630	503	367
Free Cash Flow Growth	6958.82%	-97.30%	25.25%	37.06%	-60.21%
Free Cash Flow Margin	3.85%	0.08%	5.21%	3.72%	3.08%
Free Cash Flow Per Share	2.28	0.04	2.42	1.93	1.41
Cash Income Tax Paid	-	383	439	338	283
Levered Free Cash Flow	1,850	-1,737	644.38	401.03	289.29
Unlevered Free Cash Flow	2,306	-1,409	750.63	493.53	394.29
Change in Working Capital	71	-349	159	-317	-275

Source: S&P Global Market Intelligence. Standard template. Financial Sources.